Required information (The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date March 1 March 9 March 1 March 25 Activition beginning lovestory Purchase Sales Purchase Purchase Sales Totale Perpetual FIFO Perpetual LIFO Average Units Acquired at Cost 230 unita153.40 per unit 250 units 58.40 per t $63.40 per unit 45.40 per unit Specific 14 150 200 units 350 white Uits Sold at Retail 3. Compute the cost assigned to ending inventory using Le FIFO, (LIFO, (d weighted average, and (d) specific identification For specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. 390 unite 11.40 per unit 241.60 per sit 650 unita
Required information (The following information applies to the questions displayed below] Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March Date March 1 March 9 March 1 March 25 Activition beginning lovestory Purchase Sales Purchase Purchase Sales Totale Perpetual FIFO Perpetual LIFO Average Units Acquired at Cost 230 unita153.40 per unit 250 units 58.40 per t $63.40 per unit 45.40 per unit Specific 14 150 200 units 350 white Uits Sold at Retail 3. Compute the cost assigned to ending inventory using Le FIFO, (LIFO, (d weighted average, and (d) specific identification For specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase, 110 units from the March 18 purchase, and 150 units from the March 25 purchase. Complete this question by entering your answers in the tabs below. 390 unite 11.40 per unit 241.60 per sit 650 unita
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
![Required information
(The following information applies to the questions displayed below]
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
for March
Date
March 1
March 5
March 9
March 18
March 25
March 25
Activities
beginning inventory
Purchase
Sales
Purchase
Purchase
Bales
Totals
Units Acquired at Cost
553.60 per unit
$50.60 per unit
230 units
290 units
150 unit
200 units
350 units
$63.60 per unit
$45.00 per unit
Perpetual FIFO Perpetual LIFO Weighted
Average
Specific d
Compute the cost assigned to ending inventory using LIFO
Complete this question by entering your answers in the tabs below.
Units Bold at Retail
390 units # $88.40 per unit
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (d) weighted average, and (d) specific identification. For
specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase. 110 units from the
March 18 purchase, and 150 units from the March 25 purchase.
245 unite198.60 per unit
650 unita](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbfe90c1a-402d-4732-aba9-b8492dc688c9%2Ffa2aaa56-3254-44c6-ac42-928687fe8b1e%2Fl0g1wt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Required information
(The following information applies to the questions displayed below]
Warnerwoods Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
for March
Date
March 1
March 5
March 9
March 18
March 25
March 25
Activities
beginning inventory
Purchase
Sales
Purchase
Purchase
Bales
Totals
Units Acquired at Cost
553.60 per unit
$50.60 per unit
230 units
290 units
150 unit
200 units
350 units
$63.60 per unit
$45.00 per unit
Perpetual FIFO Perpetual LIFO Weighted
Average
Specific d
Compute the cost assigned to ending inventory using LIFO
Complete this question by entering your answers in the tabs below.
Units Bold at Retail
390 units # $88.40 per unit
3. Compute the cost assigned to ending inventory using (a) FIFO, (b) LIFO, (d) weighted average, and (d) specific identification. For
specific identification, units sold include 130 units from beginning inventory, 260 units from the March 5 purchase. 110 units from the
March 18 purchase, and 150 units from the March 25 purchase.
245 unite198.60 per unit
650 unita

Transcribed Image Text:Required information
Date
March 1
March 5
Total March 5
March 9
Total March 9
March 18
Total March 18
March 25
Total March 25
March 29
Total March 29
Totals
Goods Purchased
of units
Cost per
unit
# of units
sold
Perpetual LIFO
Cost of Goods Sold
Cost per Cost of Goods Sold
unit
$
0.00
# of units
Inventory Balance
Cost per
unit
$53.60
230 at
Inventory
Balance
$ 12,328.00
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